The State Automobile Roads Agency of Ukraine (Ukravtodor) has started issuing bonds totaling UAH 5.782 billion, the agency has said on the website of the National Securities and Stock Market Commission.
The agency said in the statement that the issue of Ukravtodor bonds for the indicated amount was included in the public register of securities issues on April 28, 2020.
The Cabinet of Ministers of Ukraine approved the conditions for borrowing and providing government guarantees by the State Automobile Roads Agency of Ukraine (Ukravtodor) for a total amount of about UAH 19.27 billion at the meeting on April 1.
According to the decision of the Cabinet of Ministers, Ukravtodor will issue five series of government-secured bonds without a public offering.
The interest rate on bonds is set at 12.5% per annum and will be paid quarterly. The maturity of the bonds is from one to five years, depending on the series.
Bonds of Ukravtodor are redeemable by state-owned Ukreximbank.